Business

Initial jobless claims rose 7,000 to a 14-month high, the Labor Department said Thursday.

Consumer personal spending rose 0.5% in January, and incomes rose 1%, boosted by bonus payments, the Commerce Department said Thursday.

UPS Inc. said Wednesday that almost 200 of its employees accepted a voluntary early-retirement buyout package that will cost the company about $80 million.

Truckload carrier Celadon Group said Wednesday that one of its subsidiaries purchased the truckload business and tractors and trailers of Warrior Xpress for about $8.3 million.

Transportation and logistics firm EGL Inc. said its fourth-quarter income fell to $10.9 million or 27 cents a share, from $19.1 million or 47 cents in the previous fourth quarter.

A gauge of Chicago manufacturing activity fell in February, the National Association of Purchasing Management-Chicago said Wednesday.

The new chairman of the pivotal House Transportation and Infrastructure Committee, Rep. James Oberstar, said he would support a pilot program to test the effects that raising truck size and weight limits would have on the nation’s highways.

New home sales fell in January by 16.6%, the biggest drop since 1994, the Commerce Department said Wednesday.

U.S. Delays Border Inspection Fees • Charleston Port Sets New Security System • Oshkosh Wins $878 Million Army Contract • Survey Highlights Traffic Congestion Concern

The U.S. economy grew at a rate of 2.2% in the fourth quarter, the Commerce Department said Wednesday, in lowering its earlier estimate of 3.5%.